China’s Market Slump Heaps Pressure on Xi to Deliver Support
- Premier Li vows to roll out targeted stimulus, no specifics
- Key gauges of Chinese stocks have fallen as pessimism grows
This article is for subscribers only.
Chinese authorities are facing pressure to back up their reassuring rhetoric on the economy with more substantive action.
Shares in China are headed for their third straight week of losses, the yuan is trading near an eight-month low and angst in the nation’s credit market is growing. While Premier Li Qiang pledged on Thursday to “spare no time” in implementing targeted stimulus, he offered none of the specifics that investors have been clamoring for.